2nd Quarter 2021 2021

2021ANNUAL MEETING OF SHAREHOLDERS

2nd Quarter 2021

111

Forward Looking Statement

The numbers, as of and for the quarter ended June 30, 2021, contained within this presentation areunaudited. Certain statements contained herein may be considered “forward-looking statements” asdefined in the Private Securities Litigation Reform Act of 1995. These statements are based upon thebelief of the Company’s management, as well as assumptions made beyond information currentlyavailable to the Company’s management and, may be, but not necessarily are identified by such wordsas “believes”, “expect”, “plan”, “anticipate”, “target”, “forecast” and “goal”. Because such “forward-looking statements” are subject to risks and uncertainties, actual results may differ materially fromthose expressed or implied by such forward-looking statements. Factors that could cause actual resultsto differ materially from the Company’s expectations include competition from other financialinstitutions and financial holding companies; the effects of and changes in trade, monetary and fiscalpolicies and laws, including interest rate policies of the Federal Reserve Board; changes in the demandfor loans; fluctuations in value of collateral and loan reserves; inflation, interest rate, market andmonetary fluctuations; changes in consumer spending, borrowing and savings habits; and acquisitionsand integration of acquired businesses, and similar variables. Other key risks are described in theCompany’s reports filed with the Securities and Exchange Commission, which may be obtained under“Investor Relations-Documents/Filings” on the Company’s web site or by writing or calling the Companyat 325.627.7155. The Company does not undertake any obligation to update publicly or revise anyforward-looking statements herein because of new information, future events or otherwise.

222

Who We Are $12.33 billion financial holding company headquartered in

Abilene, Texas

Group of 12 separate bank regions

Trust and Asset Management Company with 10 locations and manages approximately $8.06 billion in assets

131 year history

Growth markets include 50 mile radius ofDallas, Fort Worth, and Houston

Top Rated Bank by Bank Director

Top Rated Bank in Texas by Newsweek

555

Recognitions – Financial Exploitation Prevention Program

Stopped fraud and saved customers from monetary losses totaling more than $17 million since 2014

Philadelphia Federal Reserve Presentation – December 2017

Texas Bankers Association Cornerstone Award for Day of Service – May 2017

Texas Bankers Association 2016 Leaders in Financial Education Award – May 2016

House Investments and Financial Services Committee – March 2016

Texas Senate Committee on Business and Commerce – January 2016

AARP Roundtable Discussion – November 2015

ABA Foundation Community Commitment Award – November 2015

White House Conference on Aging – July 2015

666

Other Recognitions

SNL Best Performing Community Banks – Assets between $3 and $10 billion - #10 – March 2020

KBW Honor Roll – One of sixteen banks named – April 2021

Raymond James Community Bankers Cup, One of 26 banks named– May 2020

777

What Makes Us Different

7

One Bank, Twelve Regions ConceptOne Bank

Consolidation of credit, call center, accounting, technology, human resources, risk management, training, and compliance (drives lower efficiency ratio)

Twelve Regions Regional Presidents run their regions Local Boards – Movers and shakers of the Community Keep our regions locally focused Make sure we meet the needs of the community Help us make better loan decisions Help us market the region

888

FFIN’s Unique Positioning in Texas

Bank Key MarketsAllegiance Houston

Cadence Bancorporation Texas, Alabama, Florida, Mississippi, Tennessee

CommunityBank of Texas Beaumont, Houston, Dallas

Comerica DFW, Austin, Houston, California, Michigan, Florida, Mexico

Frost San Antonio, Austin, Corpus Christi, DFW, Rio Grande, West Texas

Guaranty Dallas, East Texas, Bryan

Independent Dallas, Houston, Austin, Colorado

International Bancshares Rio Grande, Houston, San Antonio, Oklahoma

Origin Bancorp Dallas, Louisiana

Prosperity Houston, DFW, Austin, West Texas, South Central Texas, Oklahoma

Southside East Texas, Fort Worth

Spirit of Texas Houston, DFW, College Station, Central Texas

Texas Capital DFW, Austin, San Antonio, Houston

Triumph Dallas

Veritex Dallas, Houston, Austin

999

Customer Service First (CS1st) Began CS1st initiative in 2005 with Dennis Snow (former Disney executive charged with

Disney’s customer experience).

Implemented the Service Improvement Team with ten distinct teams with various strategic objectives.

Key Successes Established a robust employee recognition program Developed a centralized team to address system and process obstacles Designed and implemented a nationally recognized Financial Exploitation program Day of Service (Completed 5th Annual on October 12, 2020) Have transitioned what began as a service initiative into a culture of service excellence

Since 2019, the Company has partnered with Horst Schulze (co-founder and former COO of the Ritz-Carlton Hotel Company) to further enhance the Company’s culture by developing: 5 and 10 year Vision and Mission Statements 21 Service Non-negotiables Daily Line-Ups Train-the-trainer sessions for all branch managers (over 300 employees spent 2 days in

training) Incorporated into new employee orientation

111111

Texas: Large and Growing

Five most populous states:* Growth (2009 – 2019)

California 39.1 million 7.1%

Texas 29.0 million 17.1%

Florida 21.5 million 16.1%

New York 19.5 million -0.4%

Illinois 12.7 million -1.7%

* U.S. Census Bureau

121212

Target Markets – Population Growth

Population growth (2009-2019) in FFIN expansion markets:*

Texas 17.1%

Bridgeport & Wise County 16.8%

Fort Worth & Tarrant County 16.8%

Cleburne & Johnson County 11.9%

Weatherford, Willow Park, Aledo & Parker County 23.4%

Granbury & Hood County 19.0%

Stephenville & Erath County 17.7%

Conroe & Montgomery County 36.1%

Bryan / College Station & Brazos County 26.7%* U.S. Census Bureau

131313

Core Markets: West Central Texas

Markets served benefiting from well-established, long- time customers

REGIONASSET

SIZE*LOCATIONS

DEPOSIT

MARKET SHARE**

MARKET SHARE RANK**

First Financial Bank(Abilene, Clyde, Moran, Albany, Odessa,

Eastland, Ranger, Rising Star, Cisco,

Sweetwater, Roby, Trent, Merkel)

$3,644M 23 49% 1

First Financial Bank(Hereford)

$258M 1 50% 1

First Financial Bank(San Angelo)

$1,078M 2 30% 1

TOTALS $4,980M 26

* Data as of 06-30-21** Data as of 6-30-20

Core Markets: West Central Texas

141414

Expansion Markets – Dallas / Fort Worth Area

REGION ASSET SIZE* LOCATIONSDEPOSIT MARKET

SHARE**MARKET SHARE

RANK**

First Financial Bank

(Cleburne, Burleson, Alvarado)

(Midlothian, Waxahachie)

$622M 4

2

16%

6%

2

4

First Financial Bank(Southlake, Trophy Club, Keller, Grapevine)

(Bridgeport, Decatur, Boyd)

$857M 4

3

5%

21%

6

2

First Financial Bank(Stephenville, Granbury, Glen Rose, Acton)

$833M 6 26% 1

First Financial Bank(Weatherford, Aledo, Willow Park, Brock, Mineral Wells)

$1,163M 7 22% 1

First Financial Bank(Fort Worth)

$258M 1 0.29% 32

TOTALS $3,733M 27

* Data as of 06-30-21** Data as of 6-30-20

151515

Expansion Markets – Houston Area REGION ASSET SIZE* LOCATIONS

DEPOSIT MARKET SHARE**

MARKET SHARE RANK**

First Financial Bank(Orange, Mauriceville, Vidor)

(Newton, Port Arthur, Beaumont)

$913M 3

3

41%

5%

1

8

First Financial Bank (Conroe, Magnolia, Cut and Shoot, Montgomery, Huntsville, Willis, Tomball, New Waverly, Spring)

(Market Share for Huntsville, Conroe, Magnolia, Cut and Shoot, Montgomery and Willis Only)

$897M 10 10% 4

First Financial BankKingwood – Montgomery County

El Campo – Wharton County

Fulshear – Fort Bend County

Palacios – Matagorda County

$547M 4

4%

8%

0.20%

11%

7

4

30

3

First Financial Bank(Bryan / Collage Station)

$987M 5 11% 4

$3,344M 25* Data as of 06-30-21

** Data as of 6-30-20

161616

Recent De Novo Growth Bryan / College Station: Office of Trust Company – September 2020

Austin: Office of the Mortgage Company – January 2020

San Antonio: Office of the Trust Company – December 2019

Grand Parkway (Spring): Branch of Conroe – Opened January 2019

Houston: Office of Trust Company – December 2018

New Waverly: Branch of Huntsville – August 2014 (New Building – Opened December 2018)

Beaumont: Branch of Orange – August 2014

Weatherford: I-20 Branch – June 2013

Waxahachie: Branch of Cleburne – December 2012

Abilene: Antilley Road Branch – September 2012

Grapevine: Branch of Southlake – March 2012

Cisco: Branch of Eastland – September 2011 (New Building – Opened August 2016)

Lamesa: Office of Trust Company – April 2011

Odessa: Branch of Abilene – February 2010 (New Building – Opened September 2016)

Fort Worth: February 2010

Odessa: Office of Trust Company – April 2009

Merkel: Branch of Sweetwater – July 2008

Brock: Branch of Weatherford – March 2008

Acton: Branch of Stephenville – March 2008

Albany: Branch of Abilene – May 2007

Fort Worth: Office of Trust Company – April 2007 (New Building – Opened May 2016)

171717

Years with Company Years in Industry

Scott DueserChairman of the Board, President & Chief Executive Officer

45 50

Ron ButlerExecutive Vice PresidentChief Administrative Officer

28 39

James Gordon, CPAExecutive Vice PresidentChief Financial Officer

1 34

Gary S. GraggExecutive Vice PresidentChief Lending Officer

30 42

Luke LonghoferExecutive Vice President Chief Credit Officer

10 18

Randy RoeweExecutive Vice PresidentChief Risk Officer

6 31

John RuzickaExecutive Vice President

Chief Information Officer3 41

Kirk Thaxton, CTFAChairman of the Board, President & Chief Executive OfficerFirst Financial Trust & Asset Management

34 38

Executive Management Team at First Financial

181818


Brandon HarrisSenior Vice PresidentAppraisal Services

5 20

Larry KentzSenior Vice President Chief Compliance Officer

7 40

J. Kyle McVey, CPASenior Vice PresidentChief Accounting Officer

11 13

Marna YeriganExecutive Vice PresidentLending

10 40

Senior Management at First Financial

17

191919


Chris CookExecutive Vice PresidentMarketing

- 30

Troy ForePresidentFirst Financial Mortgage

6 36

Frank GioiaSenior Vice PresidentCustomer Care Center

6 34

Monica HoustonExecutive Vice PresidentRetail Banking & Training

27 27

Gary MilliornVice PresidentProperty Management

6 32

Andrea Smiddy-SchlagelExecutive Vice President Treasury Management

3 33

Michael WolvertonExecutive Vice PresidentConsumer Lending

10 36

Line of Business Executives

19

202020

Experienced Regional CEOs & PresidentsYears with Company Years in Industry

Marelyn Shedd, Abilene 31 38

David Bailey, Eastland 18 18

Candice Kanady, Eastland 20 20

Joseph Crouch, Sweetwater 3 25

Robert de la Cruz, Hereford 17 17

Chris Evatt, San Angelo 21 21

Austin Elsner, Cleburne 4 21

Trent Swearengin, Stephenville 22 24

Justin Hooper, Weatherford 17 28

Mark Jones, Southlake 21 44

Stephen Lee, Southeast Texas 9 33

Sam Baker, Conroe 6 45

Kirby Cason, Huntsville 3 15

Marcus Morris, Fort Worth 11 13

Shelley Dacus, Kingwood 3 17

Ivan Olson, Bryan/College Station 1 44

Nora Thompson, Bryan/College Station 1 30

212121

$6,810 $7,255$7,732

$7,732

$10,905$12,329*

2016 2017 2018 2019 2020 2021

*As of June 30, 2021

Total Asset GrowthAsset Performance

(in millions)

21

222222

$1,718 $2,042 $2,116 $2,166 $2,983 $3,427

$3,761 $3,921 $4,064 $4,185

$5,693$6,355

2016 2017 2018 2019 2020 2021

Non Interest Bearing Interest Bearing

Growth in FFIN Total Deposits (in millions)

$9,782*

$5,479$5,963 $6,180 $6,604

$8,676

22

Total Deposit Growth


232323

Deposit Products - $9.8 Billion*

Time4.8%

Non-interest bearing

checking35.0%

Money Market32.3%

Money Market & Savings27.9%


242424

Deposit Account Growth

Net Growth in 2017 – 5,716 AccountsNet Growth in 2018 – 3,932 Accounts*Net Growth in 2019 – 6,711 AccountsNet Growth in 2020 – 11,897 Accounts**Net Growth in 2021 – 10,212 Accounts

December 31,2017

December 31,2018

December 31,2019

December 31,2020

June 30,2021

Total Number of Accounts

260,430 270,976 277,687 303,169 313,381

*(Excluding Kingwood Acquisition)

**(Excluding Bryan/College Station Acquisition)

252525

$102 $84 $95 $97 $95 $95

$409 $404 $373 $412 $447 $492

$674 $683 $845 $856 $1,296 $1,154**

$1,009 $1,069 $1,143 $1,152

$1,257 $1,500 $1,208 $1,250

$1,250$1,517

$2,160$2,125

2016 2017 2018 2019 2020 2021

CommercialReal Estate

1-4 FamilyReal Estate

Commercial**

Consumer

Agricultural

Loan PerformanceGrowth in FFIN Total Loans (in millions)

$3,351 $3,384

$5,225

$3,501$3,975

25

$5,366*

**Includes $382MM in PPP loans and loans held-for-sale.


262626

Overview of Loan Portfolio – $5.37 Billion*

Commercial * 21.5%

Agriculture1.8%

Consumer9.2%

Commercial R/E

39.6%

1-4 Family R/E

27.9%

*Includes $320MM in PPP loans


272727

Breakdown of Commercial R/E Loans Portfolio

Residential Development & Construction

16.2%

Non Owner-Occupied R/E 20.1%

Other R/E 26.7%

Owner-Occupied R/E 26.5%

Commercial Development and

Construction10.5%


282828

Oil & Gas Portfolio Analysis

Oil & Gas Supplemental Information (dollars in thousands)

December 31, 2020* June 30, 2021*

Oil & Gas Loans $106,237 $103,166

% of Total Loans HFI 2.27% 2.07%

Classified Oil & Gas Loans $13,298 $13,090

Non Accrual Oil & Gas Loans $4,774 $3,986

Period End Net Charge-offs $825 $59

*Excludes PPP loans

292929

Retail / Restaurant / Hotel / TravelExposure as of June 30, 2021

Retail$326.4 million

6.1%

Hotel$71.0 million

1.32%

Travel$790 thousand

<0.01%

Other$27.9 million

0.5%

Restaurant$57.0 million

1.06%

Classified$43.6 million

Nonperforming$5.6 million

Note: Excludes PPP loans

2021 YTD Charge-offs$-

303030

COVID-19 Government Loan Program PerformanceThrough June 30th, 2021

$1.12 BillionTotal Government

Dollars Loaned

ThousandsOf Texas

Jobs Saved

7Main StreetLoans Made

PPP Round 2 Dollars Loaned

$142MMMain Street

Dollars Loaned

3,179PPP Round 2 Loans Made

$267MM

6,530PPP Round 1 Loans Made

$703MMPPP Round 1

Dollars Loaned

313131

Loan to Deposit Ratio

2016 2017 2018 2019 2020 2021*

End ofPeriod 61.8 58.7 64.3 64.0 60.1 54.8

Average Balances

64.9 61.0 62.0 64.2 64.6 57.1


323232

Sound Lending Practices

2016 2017 2018 2019 2020 2021

FirstFinancial 0.86% 0.57% 0.75% 0.61% 0.83% 0.57%*

Peer Group 1.05% 0.86% 0.82% 0.78% 0.98% 0.98%**

Nonperforming assets as a percentage of loans + foreclosed assets (FFIN vs. Peers)

*As of March 31, 2019

**As of March 31, 2021*As of June 30, 2021

333333

Loan Repricing As of June 30, 2021

33

Less than 1 year

1 to 2 years 3 to 5 years 6 to 10 yearsOver 10 years

39.63% 13.80% 29.00% 11.25% 6.32%

Loan Portfolio Interest Rate Risk Analysis

*As of March 31, 2019

343434

$45,779 $48,156$51,202 $52,499

$66,534$62,138*

$10,212$6,530 $5,665 $2,965

$16,048

-4,468*2016 2017 2018 2019 2020 2021

ALLL Provision

Allowance for Credit Losses and Provision for Credit Losses

(in thousands)

*For the period ended June 30, 2021 and excludes $6.8 million in reserve for unfunded commitments

353535

Summary of Bond Portfolio - $5.58 Billion*

Muni 44.18%

MBS 37.70%

CMBS8.16%CMOs 9.34%

Corporates 0.62%


363636

$3,374$3,866

$4,294$4,856

$5,398 $5,481*

$4,373

$5,132$5,599

$6,746

$7,510$8,057*

2016 2017 2018 2019 2020 2021

Growth in Trust Assets

Total Trust Assets – Book Value / Fair Value (in millions)

Boo

k Va

lue

Fair

Valu

e


373737

$19,636

$23,694

$28,181 $28,401$29,531

$9,380 $11,764

$13,975 $14,006 $14,398

$16,991

2016 2017 2018 2019 2020 2021

Total Trust Fees

Growth in FFTAM Fees (Full year and 1st 6 months) (in thousands)

383838

$7,190

$8,579

$13,532 $13,892$14,471

$3,350 $4,263

$6,838 $6,820 $7,146 $8,249

2016 2017 2018 2019 2020 2021

Total Trust Net Income

Growth in FFTAM Net Income (Full year and 1st 6 months) (in thousands)

393939

$104.8$120.4

$150.6$164.8

$202.0

$52.5 $54.9$72.2

$80.3$90.7

$113.3

2016 2017 2018 2019 2020 2021

34th Consecutive Year of Increased Earnings

FFIN Earnings (Full year and 1st 6 months) (in millions)

404040

$0.80 $0.91

$1.11 $1.21

$1.42

$0.40 $0.42$0.53

$0.59 $0.64

$0.79

2016 2017 2018 2019 2020 2021

Strong Shareholder Earnings

Diluted Earnings Per Share (Full year and 1st 6 months)

414141

1.61% 1.59%1.72%

1.98%2.08%

1.98%

0.95% 1.00% 0.95%

1.22% 1.19%

0.82%

2015 2016 2017 2018 2019 2020

FFIN Outperforms PeersPercentage Return on Average Assets

Peer

Gro

up

Firs

t Fin

anci

al

39

424242

13.60%

12.36%

13.63%

15.37%14.37%

12.93%

8.59% 9.16%8.67%

11.03%10.58%

7.26%

2015 2016 2017 2018 2019 2020

Strong Return on Capital Percentage Return on Average Equity

Peer

Gro

up

Firs

t Fin

anci

al

40

434343

14.89%16.26%

18.65%

16.95%16.25%

2016 2017 2018 2019 2020

Strong Return on Capital

Percentage Return on Tangible Average Equity

444444

10.90% 10.83% 10.87%

12.52% 12.59%

2016 2017 2018 2019 2020

Strong Capital

Tangible Common Equity Ratio

44

454545

Capital & Capital Ratios

2017 2018 2019 2020 2021*Shareholders’

Equity ($) 922,768 1,053,295 1,227,197 1,678,190 1,720,369

As a Percent of Total Assets (%)

12.72 13.62 14.85 15.39 13.95

Tangible

Equity ($)781,625 878,612 1,053,530 1,359,798 1,402,801

Tier 1

Leverage Ratio (%)11.09 11.85 12.60 11.86 11.10

Common Equity

Tier 1 Capital Ratio (%)18.66 19.47 20.06 20.79 20.04

Tier 1 Capital Ratio (%) 18.66 19.47 20.06 20.79 20.04

Total

Capital Ratio (%)19.85 20.61 21.13 22.03 21.12

(dollars in thousands)


464646

3.36%

2.87%

2.50%

2.75%

3.00%

3.25%

3.50%

3.75%

4.00%

4.25%

4.50%

1st Qtr.'18

2ndQtr. '18

3rd Qtr.'18

4th Qtr.'18

1st Qtr.'19

2ndQtr. '19

3rd Qtr.'19

4th Qtr.'19

1st Qtr.'20

2ndQtr. '20

3rd Qtr.'20

4th Qtr.'20

1st Qtr.'21

2ndQtr. '21

First Financial Peer Group

Net Interest Margin Quarterly Interest Margin

43

474747

Working Harder and Smarter

2016 2017 2018 2019 2020 2021*

FirstFinancial 49.22% 49.26% 49.72% 48.61% 45.49% 45.65%*

Peer Group 62.83% 61.01% 60.51% 59.91% 61.85% 58.68%**

Efficiency Ratio (FFIN vs. Peers)

**For the three-monthsended March 31, 2021

*For the six-monthsended June 30, 2021

484848

Total Return on Investment

494949

Dividends Per Share

$0.35 $0.38

$0.41

$0.47 $0.51

2016 2017 2018 2019 2020

Annual Dividends Declared Per Share

*Note: Increased quarterly dividend to $0.15 per quarter payable on July 1, 2021.

505050

Strong Stock Performance

-100.00%

0.00%

100.00%

200.00%

300.00%

400.00%

500.00%

600.00%

700.00%

FFIN S&P 500 NASDAQ Dow JonesJan . ‘07 Dec. ’16Dec . ‘09Dec ‘07 Dec ‘08 Dec. ‘10 Dec.

’11Dec. ’12 Dec.

’13Dec. ’14 Dec. ’15 Dec. ’17Dec. ’18

48

Dec. ’19

Dec. ’20 Jun. ’21

515151

Focus for 2021Minimize impact on our net interest income and margin

Grow loans and deposits

Grow mortgage and trust fee income

Deepen overall level of human capital

Control expenses and continue technology improvements

Manage credit quality

Make another acquisition

Address impact of crossing $10 billion asset threshold in second half of 2022

49